A Flipping Fantastic Flipping Market

Dated: 03/23/2017

Views: 398

Thanks to HGTV (and upwards real estate trends), flipping is becoming a popular way for people looking to cash in on a hot housing market.  


Flipping - or the process of buying a distressed home, renovating it to current codes and standards, then selling it for a profit isn't quite as easy as it seems on Flip or Flop.  In fact, even those famous flippers sometimes take a hit if they wind up buying a house whose renovations wind up costing more than the market will repay (hence, the flop).   It takes more than an eye for cheap granite, it takes expert knowledge of the local market, short-term term trends.  That's where I come in!


But if you're looking for the best bets to start a mini-real estate empire, start looking in these 10 best zip codes for flipping in the Triangle by clicking on the maps and seeing all the available listings:


10.  27609, Raleigh

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Gross Profit: $125K

Average Days to Flip: 196

Number of Flips:  31

Median Flip Purchase Price: $210K

Flip Sales Price: $335K

Gross ROI:  59.5%

9.  27705, Durham

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Gross Profit: $69K

Average Days to Flip: 170

Number of Flips: 23

Median Flip Purchase Price: $111K

Flip Sales Price:  $128K

Gross ROI:  62.2%

8.  27615, Raleigh

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Gross Profit: $92K

Average Days to Flip: 172

Number of Flips: 28

Median Flip Purchase Price:  $144K

Flip Sales Price: $236K

Gross ROI:  63.9%

7.  27712, Durham

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Gross Profit: $77,500

Average Days to Flip: 178

Number of Flips:  34

Median Flip Purchase Price: $118,250

Flip Sales Price: $195,750

Gross ROI:  65.5%

6.  27603, Raleigh

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Gross Profit: $78,900

Average Days to Flip: 200

Number of Flips: 39

Median Flip Purchase Price: $115,100

Flip Sales Price: $194,000

Gross ROI:  68.5%

5.  27704, Durham

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Gross Profit: $55,750

Average Days to Flip:  181

Number of Flips: 48

Median Flip Purchase Price: $79,250

Flip Sales Price:  $135,000

Gross ROI:  70.3%

4.  27597, Zebulon

PictureGross Profit: $70K
Average Days to Flip: 200
Number of Flips: 20


Median Flip Purchase Price: 
$93K
Flip Sales Price:  $163
K
Gross ROI:  75.3%

3.  27703, Durham

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Gross Profit:  $76,700

Average Days to Flip:  153

Number of Flips: 64

Median Flip Purchase Price:  $84,550

Flip Sales Price:  $161,250

Gross ROI:  90.7%

2.  27707, Durham

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Gross Profit: $78K

Average Days to Flip: 163

Number of Flips:  39

Median Flip Purchase Price: $75K

Flip Sales Price: $153K

Gross ROI:  104%

1.  27701, Downtown Durham

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Gross Profit: $55K

Average Days to Flip: 165

Number of Flips: 23

Median Flip Purchase Price: $50K

Flip Sales Price: $105K

Gross ROI:  110%


No surprise that this list ends up in Durham, Durham, Durham - it's becoming the hottest market in the Triangle and the limited supply will only make that return on investment go up in the future.


Want to know me?  Give me a Call!  I'd love to chat with you.




Michael Cunningham

Real Estate Broker 

Cell:  (919) 616-9743 

[email protected]

Blog author image

Michael Cunningham

Michael Cunningham is a Real Estate Broker as well as the go-to tech and marketing wiz at Domicile Realty. A native of Tennessee, Michael arrived in Chapel Hill by way of Washington, DC where he help....

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